 "Banking, Finance, Banks")
Strengthening of IT infrastructure of cooperative banks, enhancement of agriculture term loans and diversification of credit portfolio are important factors to make them relevant and sustainable on a long term basis, Nabard chairman G R Chintala said on Monday.
National Bank for Agriculture and Rural Development chief visited Odisha State Cooperative Bank and addressed CEOs of all the rural district central cooperative banks in the state.
Chintala focused on increasing the share of cooperative banks in agricultural lending.
He inaugurated a workshop-cum-strategy meeting in Bhubaneswar during the day and advised the participants to facilitate more rural entrepreneurs to establish and upscale their businesses, according to a statement.
He highlighted that women entrepreneurs have been provided credits by Annapurna Finance, an NBFC, supported by Nabard.
The meeting of the lender's micro-credit innovations department was attended by its officials from 15 states.
He also inaugurated a business diversification and product innovation cell established at Odisha State Cooperative Bank.
Meanwhile, state Finance Minister Niranjan Pujari and the principal secretary (Finance) held a meeting with the Nabard chief.
They discussed about the status of various financial institutions in the state, the statement said, adding that Nabard chief assured them of cooperation to the state government for building a healthy financial ecosystem.
Later in the day, the regional office of the developmental bank in Odisha organised a conclave on farm sector initiatives in the state.
Chintala launched various projects for farmers belonging to tribal communities and members of women self-help groups.
He handed over sanction letters to the project implementing agencies in tribal-dominated districts of Mayurbhanj and Gajpati district.
Chintala also rolled out a dedicated project on production and market-linkage of sweet potato at Pottangi in Koraput and said it will help farmers to diversify their products.
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